Global mining equipment market Emerging Trends and Strong Application Scope by 2018

Global mining equipment market Emerging Trends and Strong Application Scope by 2018

The global mining equipment market depicts the presence of a highly competitive and consolidated vendor landscape owing to the existence of a handful of players existing in the market, says Transparency Market Research on the basis of a newly published report. Most businesses in this market are looking forward to participate in crucial mergers & acquisitions, as well as collaborating with newer businesses to expand their presence.

A majority of players in the global mining equipment market are highly focusing on research and developmental activities. Achieving extensive product development by expansion of product portfolio is a prime scheme implemented by most players in the global mining equipment market. The competitiveness between individual players is expected to increase with new companies regularly entering this field during the upcoming years. Komatsu Limited, Caterpillar Inc., and Hitachi Construction Machinery are some of the handful of businesses operating in this market.

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Rapid Advancements in Mining and Exploration Fuel Expansion of the Market

Rapid advancements occurring in the geological field of mining and exploration all over the world is primarily driving the global mining equipment market. This is mainly because of an increasing demand for natural resources such as ores, minerals, oil, metals, natural gas, coal, and many others. A rising consumption of mineral fertilizers is also stoking the market to achieve rampant growth since past few decades, especially owing to advancements occurring in the field of agriculture. A prime reason for such a high demand rests on the fact that mineral fertilizers help maintaining quality of crops and enhances agricultural productivity. Other factors driving the global mining equipment include advancements occurring in the field of exploration studies, rising demand for geological exploitation, and a mushrooming mining industry in several regions all over the globe.

High Costs of Utilizing Mining Equipment Hampers Market’s Growth

However, a lack of adequate and necessary systems and equipment in remote and underdeveloped regions to might exist, consequently restraining the market’s growth. This is mainly making geologists, mining personnel, and geotechnical engineers rely on traditional and outdated methods, thus posing as a prime obstacle to the market. The market also is being restrained due to a shortage of trained staff and required manpower for setting up the state-of-the-art mining systems in several regions where mining activities flourish.

Use of mining equipment usually comes at a steep price, which could make small-scale parties interested in developing mining activities in an area to not opt for using certain kinds of equipment. This might further hinder the global mining equipment market substantially. However, many companies are trying come up with cost effective solutions in terms of mining machinery, which is expected to offset the restraints up to a certain extent.

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This information is based on the findings of a market research report published by Transparency Market Research, titled “Mining Equipment Market (Equipment Type – Mining Drills And Breakers, Crushing, Pulverizing, and Screening Equipment, Mineral Processing Machinery, Surface Mining Equipment, Underground Mining Machinery, Other Mining Equipment; Application – Metal Mining, Mineral Mining, Coal Mining) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2012 – 2018.”

Key Segments:

  • Rapid advancements occurring in the geological field of mining and exploration all over the world is primarily driving the global mining equipment market.
  • A majority of players in the global mining equipment market are highly focusing on research and developmental activities.

The global mining equipment market has been segmented as below:

Equipment Type

  • Mining Drills And Breakers
  • Crushing, Pulverizing, and Screening Equipment
  • Mineral Processing Machinery
  • Surface Mining Equipment
  • Underground Mining Machinery
  • Other Mining Equipment

Application

  • Metal Mining
  • Mineral Mining
  • Coal Mining

Geography

  • North America
  • Asia Pacific
  • Europe
  • Rest of the World

About Us

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

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Ganesh Rajput

As one of the lead news writers on CMFE News, Ganesh’s specialization lies in the science and technology domains. His passion for the latest developments in cloud technology, connected devices, nanotechnology, and virtual reality, among others, shines through in the most recent industry coverage he provides. Ganesh’s take on the impact of digital technologies across the science, technology, and business domains gives his writing a fresh and modern outlook.

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